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Dec 22, 2012
12/12
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for the last few weeks, i have been working with the leaders of both parties on a proposal to get our deficit under control, to avoid tax cuts -- to avoid tax hikes on the middle-class. and to make sure we can spur jobs and economic growth. a balanced proposal that cuts spending, but also ask the wealthiest americans to pay more, a proposal that will strengthen the middle class over the long haul, and our economy over the long haul. in the course of these negotiations, i offered to compromise with republicans in congress. i met them halfway on taxes and more than halfway on spending. today, i am still willing to get a comprehensive package done. i still believe that reducing our deficit is the right thing to do for the long-term health of our economy and the confidence of our businesses. i remain committed to working towards that goal, whether it happens all at once, or whether it happens in several different steps. but in 10 days, we face a deadline. in 10 days, under current law, tax rates are scheduled to rise on most americans. and even though democrats and republicans are arguing about w
for the last few weeks, i have been working with the leaders of both parties on a proposal to get our deficit under control, to avoid tax cuts -- to avoid tax hikes on the middle-class. and to make sure we can spur jobs and economic growth. a balanced proposal that cuts spending, but also ask the wealthiest americans to pay more, a proposal that will strengthen the middle class over the long haul, and our economy over the long haul. in the course of these negotiations, i offered to compromise...
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Dec 22, 2012
12/12
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and i think that's a big problem when you have a $1.1 trillion deficit. the only thing this debate has really been about for the last five weeks has been about tax increases. you're right. the republicans are playing a pretty weak end. as you both know, if nothing happens, then all the taxes go up. part of me says look, the republicans have to get this behind them. go into 2013 where they'll have a stronger hand. on things like the debt ceiling, what do we do to bring down the rest of the trillion deficit. but right now they're stymied. but i do think that by january 1st, they will have a deal in hand. i still think so. >> joy reid, have those conservative republicans, who wouldn't go along with speaker boehner's plan b last night actually strengthen president obama's hand? because as between the two men, speaker boehner and president obama, one clearly now has the upper hand in terms of leverage and negotiation. >> yeah, completely. and president obama went into this with all of the leverage. and now he's just gotten more. look, at the end of the day, th
and i think that's a big problem when you have a $1.1 trillion deficit. the only thing this debate has really been about for the last five weeks has been about tax increases. you're right. the republicans are playing a pretty weak end. as you both know, if nothing happens, then all the taxes go up. part of me says look, the republicans have to get this behind them. go into 2013 where they'll have a stronger hand. on things like the debt ceiling, what do we do to bring down the rest of the...
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Dec 23, 2012
12/12
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WMAR
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we don't have a short-term deficit problem. we have a jobs and growth problem and faltering recovery but we should put off the sequester, put off this grand bargain, come back, let the bush tax cuts expire, make sure the middle class -- >> off the cliff. >> the cliff is a manufactured media drama but the largest point is to say that the left are progressives supporting the great reforms of -- >> i would -- sflrs at a time when the richest are -- >> i would discount that maybe but on january 2nd when everyone's taxes go up, it may not feel manufactured but real. >> that's the point and this is what folks don't understand. where she's making a strong point is we're taking this, this incredible mallet and smash america and the people who will suffer are those in my community who want to go to college and lose avenues about how to do that, about the fbi agents cut that are protecting our borders and our nation from a challenge. people will be cut out on programs that support the poorest americans get access to healthy food and this
we don't have a short-term deficit problem. we have a jobs and growth problem and faltering recovery but we should put off the sequester, put off this grand bargain, come back, let the bush tax cuts expire, make sure the middle class -- >> off the cliff. >> the cliff is a manufactured media drama but the largest point is to say that the left are progressives supporting the great reforms of -- >> i would -- sflrs at a time when the richest are -- >> i would discount that...
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Dec 26, 2012
12/12
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. >> catherine, isn't it their deficit in large part deficit? >> of course, but they have political amnesia. ideology is the science of idiots. here's one of these moments where when you live inside the box and refuse to look at empirical evidence, refuse to understand history to show us how economies work, how tax cuts or increases affect populations, then they are going to follow this line of idiocy over their own, i think, political cliff. and the partisanship is going to wreak tremendous havoc on the republican party in the upcoming elections. >> we have limited time. i want to go back to john harwood. is there a time here, john, when we're going to see the markets start to react or are we expecting most traders to wait until after the first to make big decisions? >> i think that's when they reacted. if we go over the cliff, even for a couple of days, you're going to see a reaction. i think at the end of the day you will see action if we go over the cliff for a couple of days, because i don't agree with jonathan that they are immune to publi
. >> catherine, isn't it their deficit in large part deficit? >> of course, but they have political amnesia. ideology is the science of idiots. here's one of these moments where when you live inside the box and refuse to look at empirical evidence, refuse to understand history to show us how economies work, how tax cuts or increases affect populations, then they are going to follow this line of idiocy over their own, i think, political cliff. and the partisanship is going to wreak...
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Dec 22, 2012
12/12
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CSPAN
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last year, when the tea party republicans stymied the efforts of the deficit reduction committee that we called "the supercommittee," we said at the time that it would take a definitive election to decide the matter. november 6, the american people spoke. the american people spoke very clearly, and i think decisively. president obama has won all but one of the soda ash called swing states. he won a landslide victory in the electoral college, and he won the popular vote by more than 4.5 million votes. democrats in the senate added to their numbers, and won a popular vote margin of 56-44. house,e in the people's more than 1.5 million more americans voted for democrats then voted for republicans. the american people have spoken loud and clear, yet the republican leadership continues to exercise extreme partisanship, in defiance of the will of the people. i am hopeful that the spirit of the season will take hold over the next several days, and we can come back here after christmas with less partisan extremism, and work together to achieve honorable compromises that will arrest the widenin
last year, when the tea party republicans stymied the efforts of the deficit reduction committee that we called "the supercommittee," we said at the time that it would take a definitive election to decide the matter. november 6, the american people spoke. the american people spoke very clearly, and i think decisively. president obama has won all but one of the soda ash called swing states. he won a landslide victory in the electoral college, and he won the popular vote by more than...
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Dec 23, 2012
12/12
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CNNW
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it takes a huge bite out of the deficit, but on balance neither side wants to do that today, but, you know, for republicans i think that's a tougher world to swallow. many suggest if you go over the cliff, they come back and then have to agree to extend the tax rates for everybody below some number. # >> that debt deal turns out to be brilliant or something. >> what starts to matter at that point, the simpson-bowles commission, that president obama didn't want to appoint and didn't pay attention to, that's front and center. the blueprint for how we move on. these two guys took on a task that was a fool's errands we thought, what happens to the commissions, nothing. we go back to them. >> let's talk about the die nam mick between senator reid and mcconnell. ball is in your court. are these two capable of coming up with something that the senate could pass but more importantly the house could pass? >> they're going to have to try by new year's eve here. >> three days, four days. >> it's interesting senator reid said he would like governor neil abercrombie to appoint the replacement for
it takes a huge bite out of the deficit, but on balance neither side wants to do that today, but, you know, for republicans i think that's a tougher world to swallow. many suggest if you go over the cliff, they come back and then have to agree to extend the tax rates for everybody below some number. # >> that debt deal turns out to be brilliant or something. >> what starts to matter at that point, the simpson-bowles commission, that president obama didn't want to appoint and didn't...
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Dec 30, 2012
12/12
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KPIX
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might look like but will it actually do anything to cut the deficit? and what happens nay don't get a deal? we'll hear from two senators who have been working together on deficit reduction, assistant majority leader dick durbin of illinois, and senator tom coburn of oklahoma. then we'll look forward to 2013 with an all-star panel include peggy noonan of the "wall street journal." dee dee myers of "vanity fair." "time" magazine's executive editor michae michael duffy, and also "time" columnist joe klein. and we'll hear from major garrett and nancy cordes. >> you going to get a deal today, sir? >> hope so. >> o'donnell: it's all ahead because this is "face the nation." captioning sponsored by cbs from cbs news in washington, "face the nation" with bob schieffer. substituting for bob schieffer, cohost of "cbs this morning," norah o'donnell. >> o'donnell: good morning, again. tom coburn and dick durbin are here, and we'll turn to both of you in just a moment. but we want to start with some new information from chief white house correspondent major garrett
might look like but will it actually do anything to cut the deficit? and what happens nay don't get a deal? we'll hear from two senators who have been working together on deficit reduction, assistant majority leader dick durbin of illinois, and senator tom coburn of oklahoma. then we'll look forward to 2013 with an all-star panel include peggy noonan of the "wall street journal." dee dee myers of "vanity fair." "time" magazine's executive editor michae michael...
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Dec 22, 2012
12/12
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middle-class americans, protects unemployed american for 2 million americans and lays the groundwork for deficit reduction. that's an achievable goal. that can get done in ten days. once this legislation's agreed to, i expect democrats and republicans to get back to washington and have it pass both chambers. >> jared bernstein, is this actually a setback for the president insofar as the embarrassed speaker was someone at least with whom he was dealing and now the president really doesn't have a negotiation partner? >> i don't think so. i do think in a way it's a setback for the nation because the president and speaker boehner were actually moving to a credible plausible compromise at the very beginning of the week. and, of course, that's horfully off track now when john boehner decided to go to plan b. i think the leverage is enhanced by this. the problem is i don't know why republicans would nibble at this idea of essentially passing the senate bill. that's what he was describing today sometime before the end of the year when they can wait a few days, go over the cliff and tax rates automatical
middle-class americans, protects unemployed american for 2 million americans and lays the groundwork for deficit reduction. that's an achievable goal. that can get done in ten days. once this legislation's agreed to, i expect democrats and republicans to get back to washington and have it pass both chambers. >> jared bernstein, is this actually a setback for the president insofar as the embarrassed speaker was someone at least with whom he was dealing and now the president really doesn't...
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Dec 27, 2012
12/12
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CNBC
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direct limb reply indicated in the fiscal cliff talks but it is relevant to the larger issue of debt and deficits. the treasury can move money around in certain ways to extend the point where we actually reach a crisis for probably a couple of months. but this is an early warning sign. secondly, republicans in the house sent word to democrats in the senate, white house, it is your turn now. we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of those bush tax rates into the future and would turn off the sequester by switching defense cuts over to domestic programs. democrats, of course have no intention of doing that. especially after president obama won the election. senate democratic leadership aide tells me that will remains a 50/50 chance we will get a mini deal temporary extension of tax cuts under $250,000 before the january 1 deadline when we would go over the cliff. will are no assurances of that. a white house official told me as president obama prepares to fly back to conduct and participate in the negotiations at the end, there has been n
direct limb reply indicated in the fiscal cliff talks but it is relevant to the larger issue of debt and deficits. the treasury can move money around in certain ways to extend the point where we actually reach a crisis for probably a couple of months. but this is an early warning sign. secondly, republicans in the house sent word to democrats in the senate, white house, it is your turn now. we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of...
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Dec 28, 2012
12/12
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i'm shaving a little bit off of this year's deficit. we're going to have fiscal problems for as far as the eye can see, an here's where an investor, a smart investor is going to want to diversify, especially into things like tangible assets like gold. >> you're going to make the case for gold here, which, you know, has had a heck of a run for the last decade or so, but it has started to show signs of wear and tear. what would propel gold from here necessarily? >> well, two things that i would have your viewers take a look at. the first is the reason why gold has kind of flattened out at about 1650 or so is because a huge amount of supply has come on the market. there's a lot of profit-takers who are worried about increased taxes next year. as you said, they have made a lot of money on gold, so they are selling it right now and locking in those profits. the other thing to look at that very few investors have caught on to but when i was at the mint we studied this, gold demand and gold prices correlate very well with the national debt cei
i'm shaving a little bit off of this year's deficit. we're going to have fiscal problems for as far as the eye can see, an here's where an investor, a smart investor is going to want to diversify, especially into things like tangible assets like gold. >> you're going to make the case for gold here, which, you know, has had a heck of a run for the last decade or so, but it has started to show signs of wear and tear. what would propel gold from here necessarily? >> well, two things...
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Dec 24, 2012
12/12
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doesn't contribute to the deficit. and we're talking about the deficit. why should social security be discussed in that context? >> completely off the table? >> absolutely. absolutely. and that was the -- and that was our position during the campaign. social security has nothing to do with the deficit. does not contribute to it. walled off from it. its own trust fund with $2.7 trillion in it at the moment. and the american people by huge majorities say we shouldn't be cutting social security or for that matter medicare benefits. you can cut medicare in ways you don't cut benefits and the hypocrisy of republicans that said that democrats are terrible because they took $716 billion from medicare for obama care and what do we want to do? pocket the cuts and add more. our chief demand is entitlement cuts. medicare and social security. >> talk about the debt ceiling and where this is played in to this conversation. that is coming up in february or supposed to come up in february. john boehner made the offer to take it off the table for a year but i want to sho
doesn't contribute to the deficit. and we're talking about the deficit. why should social security be discussed in that context? >> completely off the table? >> absolutely. absolutely. and that was the -- and that was our position during the campaign. social security has nothing to do with the deficit. does not contribute to it. walled off from it. its own trust fund with $2.7 trillion in it at the moment. and the american people by huge majorities say we shouldn't be cutting social...
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Dec 28, 2012
12/12
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i've been working with leaders to try to forge an agreement to grow our economy and shrink the deficit. a balanced plan that would cut spending a responsible way, but also ask the wealthiest americans to pay a little more and protect the middle class and everyone striving to get into the middle class. i still want to get this cone. it's the right thing for our families. but the hour for immediate action is here. it is now. we're now at the point where in just four days, every american's tax rates are scheduled to go up by law. every american's paycheck will get considerably smaller. and that would be the wrong thing to do. it would be bad for middle class families and bad for businesses that depend on family spending. forchew nat ew fortunately, con can prevent it from happening. i just had a good discussion about how to prevent this tax hike on the middle class. and i'm optimistic we may still be able to reach an agreement that can pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. but if an agreement isn't reached in time between senat
i've been working with leaders to try to forge an agreement to grow our economy and shrink the deficit. a balanced plan that would cut spending a responsible way, but also ask the wealthiest americans to pay a little more and protect the middle class and everyone striving to get into the middle class. i still want to get this cone. it's the right thing for our families. but the hour for immediate action is here. it is now. we're now at the point where in just four days, every american's tax...
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Dec 28, 2012
12/12
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CNNW
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it was to raise awareness about deficit and debt. >> what was awesome about that >> everything. >> roland is right. there was nothing awesome about that. as a matter of fact, roland is right, john. there's nothing right. nothing. >> john's problem is inside, he's a very old man, too. i mean, it proves old people should really -- really old people should never use social media. >> an old man who is in debt and deficits. >> he's going to do the hammer dance? >> alan sem son impson is one o great public servants who will say or do whatever it takes to get people's attention on issues that really matter. skip and this group that sponsored it is the can kicks back. it's not 200 million views. >> i wish we could see al franken dancing in a unitard to fight violence against women. >> make the cut. >> senator franken. >> >> who picked the list? >> we all did it "outfront." >>> up next, a rust belt bright spot in 2013. we're going to take you there, next. [ male announcer ] rocky had no idea why dawn was gone for so long... ...but he'd wait for her forever, for any reason, and would always be ther
it was to raise awareness about deficit and debt. >> what was awesome about that >> everything. >> roland is right. there was nothing awesome about that. as a matter of fact, roland is right, john. there's nothing right. nothing. >> john's problem is inside, he's a very old man, too. i mean, it proves old people should really -- really old people should never use social media. >> an old man who is in debt and deficits. >> he's going to do the hammer dance?...
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Dec 22, 2012
12/12
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unemployment insurance for 2 million americans and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> you know, president obama today could have come out, and he could have just punched boehner right in the nose. he could have come out and kicked the guy today when he was politically down. but the president came out today with a demeanor of, hey, let's do a deal. it was a rough night at the office, but let's not give up on this. president obama has gone back to the basics. the days of the grand bargain he knows are over. but the president wants an extension on tax cuts for income below $250,000, as well as extended unemployment benefits. what's wrong with that? spending cuts can be dealt with later on in the future. and, of course, as luck would have it, there is already a bill exactly like this sitting in the united states senate. harry reid passed it back in july, and republicans refused to vote on it. boehner, why don't you vote on that? the time for complaining about this deal, totally over. >> nobody can get
unemployment insurance for 2 million americans and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> you know, president obama today could have come out, and he could have just punched boehner right in the nose. he could have come out and kicked the guy today when he was politically down. but the president came out today with a demeanor of, hey, let's do a deal. it was a rough night at the office, but...
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Dec 30, 2012
12/12
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. >> what i'm not willing to do is to have the entire burden of deficit reduction rest on the shoulders of seniors making students pay a higher student loan rates, ruining our capacity to invest in things like basic research that help our economy grow. >> in news overseas the bodies of the dead are being carried away in syria today. at least 397 people were killed saturday. that is the deadliest day so far in the 21-month long civil war. another 52 died today. the joint u.n. arab league envoy said the situation is rapidly deteriorating but that a solution is still possible. >>> in massachusetts boston's mayor lifted a snow emergency a little earlier today. more than a foot of snow fell on several towns across that state overnight. crews are clearing tons of snow in the gillette stadium now preparing for the patriots/dolphins game this afternoon. >>> keep it here as the clock ticks to the fiscal cliff. we are live on capitol hill and at the white house. plus we'll be back with a full hour at 2:00 p.m. eastern here in the cnn newsroom. we'll see you then. >>> it was one of the most import
. >> what i'm not willing to do is to have the entire burden of deficit reduction rest on the shoulders of seniors making students pay a higher student loan rates, ruining our capacity to invest in things like basic research that help our economy grow. >> in news overseas the bodies of the dead are being carried away in syria today. at least 397 people were killed saturday. that is the deadliest day so far in the 21-month long civil war. another 52 died today. the joint u.n. arab...
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Dec 30, 2012
12/12
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, it is 6 or 7% and i don't believe all of it will go on the deficit. when we raised the debt ceiling in august of 2011, we borrowed $2.1 billion. we spent that much money, in 17 months. why would i raise the debt ceiling again, unless we address what put us in debt to begin with? i'm not going to raise the debt ceiling unless we get serious about keeping the country from becoming greece, and social security and medicare, here's what i would like, meaningful entitlement reform, not to turn social security into private accounts, not to take a voucher approach to medicare. but, adjust the age for social security, cpi changes and means testing and look beyond the ten-year window. i cannot in good conscience raise the debt ceiling without addressing the long term debt problems of this country and i will not. >> chris: and, senator feinstein, you heard president obama say we have to get out of the habit and will not start trading debt ceiling increases for spending cuts. >> i think the key to what he is saying is that you don't affect people at this time. wh
, it is 6 or 7% and i don't believe all of it will go on the deficit. when we raised the debt ceiling in august of 2011, we borrowed $2.1 billion. we spent that much money, in 17 months. why would i raise the debt ceiling again, unless we address what put us in debt to begin with? i'm not going to raise the debt ceiling unless we get serious about keeping the country from becoming greece, and social security and medicare, here's what i would like, meaningful entitlement reform, not to turn...
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Dec 22, 2012
12/12
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unemployment insurance for 2 million americans and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> yesterday the house speaker john boehner failed to garner enough support from his own party to even hold a vote on his plan to raise taxes for those with an income over $1 million. >> while we may have not been able to get the votes last night, to avert 99.81% of the tax increases, i don't think they weren't taking that out on me. they were dealing with the perception that somebody might accuse them of raising taxes. >> "outfront" tonight, chief white house correspondent jessica yellin and dana bash. ladies, nice to see both of you. jessica, we'll start with you. the president's message was short and sweet and kind of basic. what do you think is different this time around in what he is saying? >> well, what's different is it is less than two weeks until the new year and the president is about to leave for hawaii, and congress is going to be gone for christmas, too, and you know there is no more effective motivator
unemployment insurance for 2 million americans and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> yesterday the house speaker john boehner failed to garner enough support from his own party to even hold a vote on his plan to raise taxes for those with an income over $1 million. >> while we may have not been able to get the votes last night, to avert 99.81% of the tax increases, i don't think...
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Dec 30, 2012
12/12
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FOXNEWSW
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the budget of the president, $5.3 trillion deficit. people understand that. they know about his war on fossil fuels. here we are in a position of having the most recoverable fossil fuels reserves of any country in the world. we could be totally independent in a matter of weeks, and he won't let us develop our own resources. those are three things what he is doing to the military and all of that, that people are aware of. they are not aware of the cost of the regulations that he has. now, i would just use three of the regulations he was putting off until after the election. one having to do with the boiler mac. it was the regulations on boilers. every manufacturer has a boiler. that would be $63 billion cost in taxes and 800,000 jobs. coal the same way. he actually did away with coal by having an emissions requirement where there is no technology that will reach it. that will be 1.65 million. the reason i mention these, i could be talking about a lot of different regulations. but if you add up these three regulations, that would be $100
the budget of the president, $5.3 trillion deficit. people understand that. they know about his war on fossil fuels. here we are in a position of having the most recoverable fossil fuels reserves of any country in the world. we could be totally independent in a matter of weeks, and he won't let us develop our own resources. those are three things what he is doing to the military and all of that, that people are aware of. they are not aware of the cost of the regulations that he has. now, i...
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Dec 30, 2012
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we still have a huge deficit. if we do not take on spending, then the cliff may not seem like a cliff but will be a downward slide to make us like greece. no lodnger a viable economic power. >> hang on. we'll continue this. we have to take a quick break. the fiscal cliff has the president sounding like new york yankees legend yoeg gi ber ra. >> this is deja shz vu all over again. americans want to know why you can't get stuff down in an organized timetable. >> so if we all saw it coming, why did congress wait so long to do something about it? why do toys for tots and hasbro trust duracell to power their donated toys? duralock power preserve. it locks in power for up to 10 years in storage. guaranteed. duracell with duralock. trusted everywhere. anyone have occasional constipation, diarrhea, gas, bloating? yeah. one phillips' colon health probiotic cap each day helps defend against these digestive issues with three strains of good bacteria. approved! [ female announcer ] live the regular life. phillips'. >>> we are
we still have a huge deficit. if we do not take on spending, then the cliff may not seem like a cliff but will be a downward slide to make us like greece. no lodnger a viable economic power. >> hang on. we'll continue this. we have to take a quick break. the fiscal cliff has the president sounding like new york yankees legend yoeg gi ber ra. >> this is deja shz vu all over again. americans want to know why you can't get stuff down in an organized timetable. >> so if we all saw...
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Dec 30, 2012
12/12
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WUSA
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i think there is a deficit there of very broad-minded leadership, and there is certainly a deficit of trust between the congress and the president, and 20 republican in congress and the democrats. so plenty of fault to go around. >> o'donnell: dee dee, what about that? mitch mcconnell, who is really now at the heart of make something sort of deal today about how far he can take republicans, he says the president called him last week. it was the first time he's talked to the president since november 16. why is-- is there something the president is responsible for that he's not reached out enough to republicans and established that kind of trust that there has been lacking? >> look, i would have liked to have seen the president do more reaching out during the entirety of his first term. keep in mind, the president has been negotiating with john boehner, and that was the agreed upon format. he's been in conserves with him, and when push comes to shove, boehner cannot get these deals done in his caucus. the big change is not in the white house. it's in the culture of congress. it has beco
i think there is a deficit there of very broad-minded leadership, and there is certainly a deficit of trust between the congress and the president, and 20 republican in congress and the democrats. so plenty of fault to go around. >> o'donnell: dee dee, what about that? mitch mcconnell, who is really now at the heart of make something sort of deal today about how far he can take republicans, he says the president called him last week. it was the first time he's talked to the president...
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Dec 22, 2012
12/12
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the reality is we're running deficits upwards of $1 trillion which we can't afford. we've got $16 trillion worth of debt. if we go through this cliff, it will force our country to have to cut spending. on the flip side, it means higher taxes out of everyone's pocket at a time when the economy is still on fragile ground, showing signs of recovery. we've got good ones this week. but still on fragile ground, and people are worried that if consumers have less money to spend, it's going to really take its toll on this u.s. economy. >> i know you're reading the tea leaves, so what are they telling you? will we have a deal in time? >> reporter: it's interesting. about 66% of investors polled by ubs, the swiss bank, say that they believe a deal will happen. i can tell you the people that i talk to on my show every day, they're placing bets one way or the other. the majority think there's a real good chance that we blow right through this. that we actually go right through it. and they're hedging their bets in the investment community because they're not confident that the po
the reality is we're running deficits upwards of $1 trillion which we can't afford. we've got $16 trillion worth of debt. if we go through this cliff, it will force our country to have to cut spending. on the flip side, it means higher taxes out of everyone's pocket at a time when the economy is still on fragile ground, showing signs of recovery. we've got good ones this week. but still on fragile ground, and people are worried that if consumers have less money to spend, it's going to really...
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Dec 27, 2012
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health care, the biggest add to our deficit in this country is rising health care costs. do we need to tackle those? how do they interact with the changes that are going to be set up across the country. is it going to cost the taxpayer more or less? all those have to be in the realm of realistic facts and figures. >> you're in arizona today. many of your constituents worked over the holidays. do you think congress should have stayed in washington to work together for an agreement? >> absolutely. absolutely. once you know, once the boehner plan b collapsed, all we got was a notification, you can go home, we'll call you when we're ready. >> boehner's got to get off the majority of the majority must agree to something. it's going to take democratic votes to pass a tough fiscal compromise and unless there is inclusion and discussion on both sides of the aisle about this issue, that compromise gets tougher and tougher. >> thank you for coming "outfront." >> appreciate it. thank you. >> now, on the other side of the aisle. congressman, you just heard your arizona colleague say
health care, the biggest add to our deficit in this country is rising health care costs. do we need to tackle those? how do they interact with the changes that are going to be set up across the country. is it going to cost the taxpayer more or less? all those have to be in the realm of realistic facts and figures. >> you're in arizona today. many of your constituents worked over the holidays. do you think congress should have stayed in washington to work together for an agreement?...
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Dec 28, 2012
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what do you do about deficits? the truth is doing nothing at this point is the best impact they can have on deficits, because taxes will go up, spending will go down. that's the point of this deal. so to come to your point, yeah, i guess they could suddenly hug each other and do had this dance, but the reality is there are a lot of people who think, what we are dealing with is deficits because the budget looks better and we'll deal with the economy some other way. >> doing nothing is what they do best. mike, before we let you go, ed mackey malden running for the united states senate in massachusetts. >> he's never run statewide. do you agree with this? i think scott brown is smiling this morning? i think a race against ed markey well-known in washington, respected here and has taken strong positions on climate change and other issues. he's not a household name in massachusetts. scott brown is. there's a totally different electorate in this special election. scott brown likes this match upup. mike, would you call hi
what do you do about deficits? the truth is doing nothing at this point is the best impact they can have on deficits, because taxes will go up, spending will go down. that's the point of this deal. so to come to your point, yeah, i guess they could suddenly hug each other and do had this dance, but the reality is there are a lot of people who think, what we are dealing with is deficits because the budget looks better and we'll deal with the economy some other way. >> doing nothing is what...
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Dec 30, 2012
12/12
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the overall fiscal pressures are going to push us that way because of the deficit issue. and the one thing i would like to add is, these choices of what systems to cut or what forces to cut would be far less difficult if we could make the defense department more efficient. and we identify in the study some $900 billion in potential savings just through greater efficiency, particularly in the way we utilize manpower. so if we could pocket that, then we wouldn't to have cut our combat forces as much. >> but let me ask you something that i've asked almost everybody in the administration. the administration is banking on huge savings from better buying power, reorganizing processes and becoming more efficient, but the trouble is what happens if the savings don't materialize? where are we going to get savings in that case? >> well, the hope is that the fiscal -- because of the fiscal pressures, the services and the congress will be more cooperative in actually implementing these savings. these efficiencies are not made up by academics like myself. these were recommended by off
the overall fiscal pressures are going to push us that way because of the deficit issue. and the one thing i would like to add is, these choices of what systems to cut or what forces to cut would be far less difficult if we could make the defense department more efficient. and we identify in the study some $900 billion in potential savings just through greater efficiency, particularly in the way we utilize manpower. so if we could pocket that, then we wouldn't to have cut our combat forces as...
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Dec 30, 2012
12/12
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this is a good deficit -- solid deficit reduction proposal. my great fear is they will make a deal and simply kick the can down the road and i think that may happen. it would be too bad. the right deal is to really take a big bite out of the deficit. you go back to the clinton tax rates and make some significant cuts and you cut the defense department, which hasn't been cut in 30 years. >> maggie, looks like we will get exactly what the governor just -- i mean assuming they get -- and what was your take listening to schumer and kyl? >> my take was there has not been that much progress. my take on labrador -- >> they sounded so optimistic. because that's where the deal >> well, they did. they both did because that's where the deal is being discussed in the senate. with the discussion with the house members that i found much more contentious and sort of interesting about where we are and that i think is of real concern. i do think that some senate democrats and some liberal members of the house would like to see the cliff gone over. they think t
this is a good deficit -- solid deficit reduction proposal. my great fear is they will make a deal and simply kick the can down the road and i think that may happen. it would be too bad. the right deal is to really take a big bite out of the deficit. you go back to the clinton tax rates and make some significant cuts and you cut the defense department, which hasn't been cut in 30 years. >> maggie, looks like we will get exactly what the governor just -- i mean assuming they get -- and...
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Dec 24, 2012
12/12
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the grand bargain, something to prevent taxes going up, and also lay the groundwork potentially for deficit reduction in the future. i think you will see president obama cut his vacation short, and continue to play a role in those negotiations. richard. >>> kristin, over the weekend, he attended the funeral for the late senator inouye, who he has called an inspiration to him. what did you see in that service? >> well, more than 20 members of congress attended, mostly democrats, majority leader harry reid spoke and praised senator inouye for his partisan spirit, reaching across the aisle. of course in an earlier memorial service, the president called the late senator his earlier inspiration, on a a lot of members of congress came together to pay their respects. >> thank you, kristin. >>> if congress and the president fail to reach a deal, the impact is as unlikely as immediate as the term "fiscal cliff" seems to imply. the expiration of the tax cuts with a $2200 average tax high. the payroll tax cut would also expire meaning another $40 a paycheck and long-term unemployment benefits would en
the grand bargain, something to prevent taxes going up, and also lay the groundwork potentially for deficit reduction in the future. i think you will see president obama cut his vacation short, and continue to play a role in those negotiations. richard. >>> kristin, over the weekend, he attended the funeral for the late senator inouye, who he has called an inspiration to him. what did you see in that service? >> well, more than 20 members of congress attended, mostly democrats,...
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Dec 22, 2012
12/12
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package that avoids tax hike on mid class, >> and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> bayne never >> holman: in his appearance earlier, boehner, flanked by majority leader eric cantor, sounded doubtful, but sa he' wilingo try. >> how we get there, god only knows. all i'm telling you is that eric and i, and our team here are committed to working with our colleagues on both sides of the aisle, both sides of the capitol, and the white house to address that. >> holman: still, as the capitol emptied for the holiday, the clock was ticking down to more than $500 billion in spending cuts and tax hikes kicking in. >> woodruff: and to the analysis of shields and gerson-- syndicated columnist mark shields and "washington post" columnist michael gerson. david brooks is off tonight. gentlemen, good to have youit us. >> good to be with you. >> woodruff: so mark, the fiscal cliff, it's still with us. it's still out there. the president made a last minute statement late this afternoon. where does everything stand?
package that avoids tax hike on mid class, >> and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> bayne never >> holman: in his appearance earlier, boehner, flanked by majority leader eric cantor, sounded doubtful, but sa he' wilingo try. >> how we get there, god only knows. all i'm telling you is that eric and i, and our team here are committed to working with our colleagues on both...
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Dec 30, 2012
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separately is how do we bring down our deficit? do we attack social security entitlements, medicare, medicaid and that's this ideological struggle we're seeing between democrats and republicans that will continue in a series of skirmishes probably over the debt ceiling come february and ongoing until they finally have it out and resolve this for the long term. >> i think the white house's view in political terms is that how he handles himself on this sets the terms of engagement for those subsequent fights. again, a few weeks ago, when i was talking to people at the white house about how they were going to strategize this, they said look, this is a re-set moment and we've got to re-set sort of the balance of power from the 2011 talks. >> i think it's worth emphasizing on the numbers you mentioned the public overwhelming supports raises faxes on the wealthy but on the spending cuts they oppose cutting those programs in large numbers. when you get specific about that, don't cut that, don't cut that. >> hands off medicare. >> the pres
separately is how do we bring down our deficit? do we attack social security entitlements, medicare, medicaid and that's this ideological struggle we're seeing between democrats and republicans that will continue in a series of skirmishes probably over the debt ceiling come february and ongoing until they finally have it out and resolve this for the long term. >> i think the white house's view in political terms is that how he handles himself on this sets the terms of engagement for those...
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any of that they got everything as i've said i should iraq and now we're talking about reducing the deficit we're asking who's going to who's going to contribute to this and we have people on social security were asked to contribute we haven't asked people in wall street to contribute one dime to reducing the deficit right now for a problem that they caused i mean they caused this problem. at which which raises an important issue i mean it not only did has wall street caused this problem but look at his p.c. is the bank is just chinese one just because he had just played a they're based out of hong kong but they their main offices their largest office is actually in london and they are the third largest bank in the world in the sixth largest bank in the united states and this bank just pled guilty to funding terrorists both al qaeda and mexican drug cartels now my understanding is my understanding is that if you hand a couple million bucks to it it is actually that if you if you hand fifty dollars if you wire if you go to a liquor store in new york city where fifty bucks to some guy in paki
any of that they got everything as i've said i should iraq and now we're talking about reducing the deficit we're asking who's going to who's going to contribute to this and we have people on social security were asked to contribute we haven't asked people in wall street to contribute one dime to reducing the deficit right now for a problem that they caused i mean they caused this problem. at which which raises an important issue i mean it not only did has wall street caused this problem but...
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Dec 26, 2012
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if we're going to have a good solution that gets at our deficit and reduce our debt everything has to be on the table and we'll deal with it. it's great to have rules. we just like to know what they are so we can make the right investments moving forward. >> even if it puts us in a climate of slow growth, even more slow growth than the economy which would be the kind of a climate where you as a ceo wouldn't want to invest in that anyway, you know what i mean? >> so i think a grand bargain won't create a slow economy. i think it will restore confidence and we'll all invest. we'll know what the rules are and the game plan is. weied be ready to move ahead. we have opportunities to grow all the way around the world. we need to know where to put our capital investment. if we know what the rules are, we'll invest. 60% to 65% of our costs are people and we put people back to work every day. >> you don't expect a grand bargain? >> no. >> meaning? >> a short-term fix and perhaps a recession. they talk about this bungee approach and i don't think that's helpful. let's take it away from american
if we're going to have a good solution that gets at our deficit and reduce our debt everything has to be on the table and we'll deal with it. it's great to have rules. we just like to know what they are so we can make the right investments moving forward. >> even if it puts us in a climate of slow growth, even more slow growth than the economy which would be the kind of a climate where you as a ceo wouldn't want to invest in that anyway, you know what i mean? >> so i think a grand...
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Dec 30, 2012
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reduce the deficit by 10 or 12%. so it's a question at this point of what sort of hollow, empty meaningless symbolic gesture daus washington want to make and how many group of people do they want on the altar to make that gesture. >> what's so interesting here is that we're talking about the republicans fighting to protect 1.2% of the american public from a tax increase. 98.2% of taxpayers are below the $250,000 threshold so it's kind of amazing in congress, particularly when we're talking about the house, that he's made a pledge around tacks that its willing to allow 98.2% of americans to pay more by going over -- around this curve, it's more of a curve than a cliff. but i think the issue of the deficit is important. i don't think it's a symbolic gesture. one of the things that we've seen is $200 million we've started carving off the deficit. and the question is the time frame of deficit reduction, right? it's how fast, over what time trajectory do we see health? we've been making improvements over the past three ye
reduce the deficit by 10 or 12%. so it's a question at this point of what sort of hollow, empty meaningless symbolic gesture daus washington want to make and how many group of people do they want on the altar to make that gesture. >> what's so interesting here is that we're talking about the republicans fighting to protect 1.2% of the american public from a tax increase. 98.2% of taxpayers are below the $250,000 threshold so it's kind of amazing in congress, particularly when we're...
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Dec 27, 2012
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too much deficit reduction, too quickly, and we could push the economy into a recession. that's just dumb. >> it is very dumb. now, you've been in many, many, many of these negotiations? you've been in the backrooms of a lot of the ongoing negotiations, now, do you think they have any chance of getting a deal before the first of the year? >> i'm always hopeful, but i'm less hopeful as every day passes. the problem is the rhetoric that's flying back and forth between republicans and democrats sounds like we're still having an election that it never was over. i think that now -- now that we've had an election, and the american public has spoken, whatever they meant, it's time for the politicians to get together, come together as starbucks is saying, and get something done. nobody's going to get everything they want. but it's so much more important to solve the problem than for one side or the other to get what they want or blame the other. the atmosphere is just wrong. >> when you hear the argument for going over the cliff. when it's been told to me by both democrats and re
too much deficit reduction, too quickly, and we could push the economy into a recession. that's just dumb. >> it is very dumb. now, you've been in many, many, many of these negotiations? you've been in the backrooms of a lot of the ongoing negotiations, now, do you think they have any chance of getting a deal before the first of the year? >> i'm always hopeful, but i'm less hopeful as every day passes. the problem is the rhetoric that's flying back and forth between republicans and...
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Dec 28, 2012
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so it adds to the deficit and only is willing to raise taxes on millionaires and above and that is getting through the senate. so what you're saying the reverse is true when you look at the house. boehner can pass the senate bill tomorrow as harry reid said today, but he doesn't want to do it with democrats and he wants a majority of the majority. is there anything wrong? wouldn't you like a bipartisan coming together here and everybody's in this? >> it would not be at all, and any of the plans at all, joy. and they campaign on three to one spending on we haven't seen anything like that come out of the senate. and they will not do anything to come out of the senate. >> john boehner can't get his own caulk us to take a vote on his idea to only raise the tax rates. he can't even get his own caucus to do that and he's been humiliated over and over by his own caulk us and he can solve it tomorrow. >> joy ann, harry reid hasn't passed a budget in years. >> he's passed a solution to this crisis. we're talking about the fiscal cliff. >> it hasn't got ensigned into law. there's no success yet ther
so it adds to the deficit and only is willing to raise taxes on millionaires and above and that is getting through the senate. so what you're saying the reverse is true when you look at the house. boehner can pass the senate bill tomorrow as harry reid said today, but he doesn't want to do it with democrats and he wants a majority of the majority. is there anything wrong? wouldn't you like a bipartisan coming together here and everybody's in this? >> it would not be at all, and any of the...
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Dec 29, 2012
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unemployment insurance is available for 2 million people, and it lays the groundwork for additional deficit reduction and economic growth steps that we can take in the new year. let us not miss this deadline. that is the bare minimum we should be able to get done. it should not be hard since democrats and republicans say they do not want to see taxes go up on middle-class families. i have to repeat -- outside of washington, nobody understands how it is that this seems to be a repeat pattern over and over again. ordinary folks -- they do their jobs. they meet deadlines. they sit down and they discuss things and then things happen. if there are disagreements, they sort through the disagreements. the notion that our elected leadership cannot do the same thing is mind-boggling to them. it needs to stop. i am modestly optimistic that an agreement can be achieved. nobody will get 100% of what they want. let us make sure that middle- class families and the american economy and the world economy are not adversely impacted because people cannot do their jobs. thank you very much, everybody. >> today
unemployment insurance is available for 2 million people, and it lays the groundwork for additional deficit reduction and economic growth steps that we can take in the new year. let us not miss this deadline. that is the bare minimum we should be able to get done. it should not be hard since democrats and republicans say they do not want to see taxes go up on middle-class families. i have to repeat -- outside of washington, nobody understands how it is that this seems to be a repeat pattern...